‘Stocks Have Taken On A Different Personality,’ Mike Wilson Says

"Stocks have taken on a different personality" since the end of Q2 earnings season, Morgan Stanley's Mike Wilson said Monday. He called last quarter's results "a 'sell the news' event," noting that the median and average performance following results was the worst in more than a decade, which he said "makes sense given weakening earnings quality and negative YoY growth for many industry groups, coupled with the strong price run-up into mid-July which fostered extended valuations." Valuations a